Bank Nifty Bulls continue to hold 25250,EOD Analysis

By | February 15, 2018
  • As Discussed in Last Analysis Bank Nifty opened with a gap and as soon as 25600 was broken corrected all the way towards 25250 so good move captured.  Bearish below 25250 for a move towards 24996/24750. Bullish above 25510 for a move towards 25700/25800. Bank Nifty bulls went above 25510 but failed to do target of 25700. Bulls were able to protect 25250, Now as we have weekly close tommrow, Bulls need a close above 25510 for up move towards 25700. Bearish below 25250 for a move towards 24996/24750. Important time cycle turn dates are coming on 18-19 Feb.  Important intraday time for reversal can be at 11:39/2:38  Trader needs to be Adaptive

 

 

 

  • Bank Nifty Feb Future Open Interest Volume is at 22.3 lakh with liquidation of 0.11 Lakh, with decrease in Cost of Carry suggesting short positions were added today. Bank nifty Rollover cost @27248, closed below it and corrected 2248 points.
  • 26000 CE is having highest OI @5.2 Lakh resistance at 26000 followed 26500.25000-27000 CE added 6.3 lakh in OI so bears added position at higher levels.
  • 25000 PE is having highest OI @5.5 Lakh, strong support at 25000 followed by 25300.25000-27000 PE  added 0.94 lakh in OI still strong support at 25000-25100 .

 

Buy above 25450 Tgt 25555,25620 and 25750 (Bank Nifty Spot Levels)

Sell below 25400 Tgt 25320,25222 and 25120 (Bank Nifty Spot Levels)

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